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We understand that some residents of Hermosa Beach remain concerned about the oil recovery project proposed by E&B Natural Resources. And we understand that there remains a lot of misinformation and lack of understanding regarding both the factual details of the project, as well as its potential benefits.
But we are optimistic that as the City proceeds through its public review process -- which will include an environmental review, a health and safety review, and an economic benefit review -- that the specific details and the benefits of this project will come to light, and enable the citizens of Hermosa Beach to come to their own conclusion and decision through voter approval.
E&B is confident that we can recover oil that resides within the city’s jurisdiction both safely, and to the benefit of the Hermosa Beach community – delivering hundreds of millions of dollars of both royalty and tax revenues which will cumulate to the community over the life of the project. Revenues will flow to the City, the schools, as well as many private citizens who hold royalty rights.
It is important to note that even though E&B has submitted its project application and detailed project description, we are at the very front end of the City’s public review process (which will include public meetings and hearings). So the confusion and misstatements that can surface at public forums, such as last night’s school board meeting, are understandable.
However, the City’s public review process will assess in great detail, E&B’s ability to safely recover oil resources to the benefit of the Hermosa Beach community. As this process evolves throughout the balance of this year, we encourage citizens to remain involved and to ask questions and receive answers.
Our offices at 205 Pier are open for citizens to come in and ask questions and receive answers. We also can be reached by telephone at: (424) 903-7222, or through the web at: http://ebnr-hermosa.com.
E&B Natural Resources